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Macro-economic impact of high oil price

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Acronym: HOP!
Period: 2007 till June 2008
Status: Completed

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The HOP! project (Macro-economic impact of High Oil Prices) aimed at estimating the various direct and indirect effects of a long term future oil price escalation on the EU's economy based on a combined modelling approach. The impacts on the transport and energy sector and the overall economic system were assessed via a combination of the partial equilibrium global energy model POLES with the ASTRA transport and macroeconomic model.
The project was co-funded by the European Commission DG Research as part of the 6th Framework Research Programme and is undertaken by three partners, with TRT Trasporti e Territorio taking the lead and collaborating with Fraunhofer Institute Systems and Innovation research (ISI) and the Institute for Prospective Technological Studies of the European Commission JRC (IPTS). In June 2008, the activities of the project have been concluded and the project reports approved by the European Commission DG RTD.

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